This is a trend following analysis using a breakout entry formation that generally has the greatest results. This analysis is good for 4H trading, but can also be used on almost all time frames and on all pairs. Basically, this analysis is based on breakout and certain forms of reversals. The analysis seeks to highlight potential breakout setups that can result in higher reward. To ensure consistent successful trades, the trader should exercise some degree of patience and wait for the perfect set up to execute trades. There’re are several types of breakouts, I only focus on two types of breakouts, trend line breakout and double top/triple top/ bottom breakout. Even with the two, I only trade double top/ triple bottom breakout most of the times and trend line breakout at some other times. Double top/Triple top/ bottom breakout is more dependable and reliable than the other. Note, trend line breakout includes also breaks that occur out of various shapes such as wedges, channels, triangles, and all the other shapes part from rectangles. Below are the simple sketches of some of the breakout setups I’ll be focusing on.
| 02 - 06 May |
weekly
forecast 02 - 06
May #CAC40 weekly Technical observation #CAC40 is trading with an increasing bearish bias above the supportive zone 6145.2-6063.8, I expect a continuation of this downwards movement to the same zone followed by a rejection within it to pick long positions with my take profit at 7226.1 and stop-loss | ||
| 2022 | EURUSD | GBPUSD | USDJPY |
| 06 May | Technical observation EUR bounced within the resistance zone 1.1163-1.1132 then declined steadily up to the supportive level 1.0503. Currently price is trading with an increasing bearish bias and my expectation is a clear break below this level with a big red candle followed by a correction to it | Technical observation On the daily chart above, price retraced to the resistance level it established at 1.2637 but could not break above it and as long as it is sustained below this level, I expect it to surge further downwards. My advice, if you picked short positions at the level 1.2637 after a | Technical observation USD rose up to the resistance level 131.24 but could not break above it, instead it bounced at the line and for some time it rallied to the lower side. I still expect a further surge to the supportive zone 127.53-127.17 followed by a rejection within it to pick long positions |
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